MA NAH MA NA NA NAMA

Every time I hear the word NAMA, I can't help singing the Sesame Street song Ma nah ma na NAMA and it brings a smile to my face. I don't know why maybe it conjures up some childhood memories but I'd place my bets on how ironic it is.

NAMA (National Assests Management Agency) is the governments brain child to rid our banks of all their bad debts leaving us, the taxpayer with all the risk. Now I'm not a financial expert and I don't know if I agree or disagree with NAMA however it does make me feel uneasy that the property developers who made millions perhaps billions during the Celtic Tiger are being bailed out. It's argued that if NAMA wasn't implemented that the country could face dire consequences but what about the dire consequences that we may face in the future because of NAMA.

The government appointed economist, Colm McCarthy, who identified €5.3 billion possible savings from government spending, stated that the Irish Banks could still be nationalised despite NAMA being implemented. Is this some kind of sick joke? We spend billions creating NAMA to help save the banks but might have to spend even more billions nationalising the banks further.

Ever get the feeling that you're in a dark room trying to find your way out with everyone giving different directions, maybe that's how the government feels as none of them are qualified enough to deal with this situation. I can also imagine the ministers sitting around the cabinet table twiddling their thumbs, looking into their department papers not fully understanding the magnitude of the crisis we're in, the impact of NAMA or even gaging public sentiment correctly but one thing is for sure I bet when the going gets tough the burst into song Ma Nah Ma Na Na Nama, Ma Nah Ma Na Na Nama, Ma Nah Ma Na Na Nama just to make them feel better!